Peak XV Partners, Temasek, PayPal, Mastercard among largest Pine Labs shareholders after IPO

Peak XV Partners and Temasek Holdings’ MacRitchie Investments will continue to own more than 5% of Pine Labs after the Gurugram-based fintech company went public today.

While Peak XV Partners continues to be the largest single shareholder with a 16.6% stake, MacRitchie, which is part of Temasek, the Singapore government’s sovereign fund, will own 5.7% of Pine Labs.

At a market capitalisation of Rs 28,000 crore, Peak XV’s stake is worth Rs 4,656 crore and MacRitchie’s shareholding is valued at Rs 1,607 crore.


PayPal, Mastercard and Actis are the three other major shareholders in Pine Labs, holding between 4.2% to 4.9%. Their shareholding is currently valued at around Rs 1,500 crore, post-IPO.

ET reported on November 14 that Peak XV Partners will stand to be the biggest gainer in the Pine Labs story. The company had invested around $35 million back in 2014, with a first small investment made even earlier, in 2009. The venture firm has already taken out around $550 million from the company through a secondary share sale and is now sitting on another roughly $500 million of unrealised gains, at the current market capitalisation.

Amrish Rau, chief executive officer of Pine Labs, who joined the company only in 2020 and steered it through multiple fundraises and ultimately the IPO, owns around 2.2% in the company, roughly valued at Rs 636 crore, post IPO.

Pine Labs shares are currently trading at around Rs 250 up 13% from Rs 221, the IPO price.